Uranium Energy (NYSE American: UEC), a U.S.-based uranium mining and exploration company, has closed on its a purchase agreement with Rio Tinto Exploration Canada Inc., a subsidiary of Rio Tinto Inc. The agreement outlines the C$1.5 million acquisition of a portfolio of exploration-stage projects in the Athabasca Basin in Saskatchewan. According to the announcement, UEC has acquired a 60% equity stake in the Henday Lake joint venture, 100% of the Milliken project and a 50% equity stake in the Carswell joint venture project. The company noted that, with the completion of this transaction, it has added an additional 44,444 acres of prospective ground in the Athabasca Basin to its existing portfolio of 1,091,639 acres. The Henday project is 17,801 acres north of Roughrider and lies within the prolific Wollaston-Mudjatik transition zone that is host to many of the eastern Athabasca deposits.
The Carswell project is 16,771 acres just north of the now mined out Claude Deposit at Cluff Lake. Milliken is 9,872 acres located along the strike of the company’s Wolf Lake trend on its Hidden Bay project. “This is our third acquisition in the Athabasca Basin in the last 12 months and builds on the landmark acquisitions of UEX and the Roughrider project,” said Uranium Energy CEO and president Air Adnani in the press release. “This acquisition represents an important component in our strategy to assemble a premier North American uranium portfolio, featuring near-term U.S. production, Canadian development-stage projects including joint ventures, and a pipeline of exploration projects with excellent growth potential. Since the acquisitions of Roughrider and UEX last year, the Canadian team has issued technical reports on the Roughrider, Horseshoe-Raven and the Shea Creek deposits. We have also added James Hatley as vice president production, Canada to the team to augment the advancement of our Canadian assets towards production.”
To view the full press release, visit https://ibn.fm/dp1tj
About Uranium Energy Corp.
Uranium Energy Corp is the fastest-growing supplier of the fuel for green-energy transition to a low-carbon future. UEC is the largest, diversified North American-focused uranium company, advancing the next generation of low-cost, environmentally friendly, in-situ recovery (“ISR”) mining uranium projects in the United States and high-grade conventional projects in Canada. The company has two production-ready ISR hub-and-spoke platforms in south Texas and Wyoming. These two production platforms are anchored by fully operational central processing plants and served by seven U.S. ISR uranium projects with all their major permits in place. Additionally, UEC has diversified uranium holdings including: (1) one of the largest physical uranium portfolios of North American-warehoused U3O8; (2) a major equity stake in Uranium Royalty Corp., the only royalty company in the sector; and (3) a pipeline of resource-stage uranium projects. The company’s operations are managed by professionals with decades of hands-on experience in the key facets of uranium exploration, development and mining. For more information about the company, visit www.UraniumEnergy.com.
NOTE TO INVESTORS: The latest news and updates relating to UEC are available in the company’s newsroom at https://ibn.fm/UEC
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